Mortgage and Financial News From 2007-9-9 Page 17
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US home foreclosures, delinquencies at record high
Economic Times - Homeowners with adjustable rate mortgages are finding it difficult to refinance as home prices decline and lending standards rise, said Doug Duncan, MBA’s chief economist. About half of US banks have raised their standards for subprime ...
2007-09-06 08:48:00 -
Reason for high foreclosure rate different here
Grand Rapids Press - ... average home-sale price fell 8 percent in July from the same period a year ago and 1.5 percent from June. In a normal market, people might refinance to improve their situation. But in this market, they don't have any borrowing power -- their home is ...
2007-09-08 11:23:00 -
Parsing the numbers in sales studies
Allentown Morning Call - The government's index taps into a vast housing database -- the combined new loan and refinance transaction records of mortgage giants Fannie Mae and Freddie Mac -- but omits home loan transactions on upper-bracket houses and jumbo loans above $417 ...
2007-09-09 12:21:00 -
Fail-safe that wasn't
Baltimore Sun - Interest rates were low, and housing prices were climbing, so it was simple to get a lender to refinance the home. Homeowners with weak credit, so-called subprime borrowers, played the refinancing game over and over again. Whenever mortgage rates ...
2007-09-09 12:21:00 -
As Mortgage Industry Adjusts to Credit Crunch, So Do Borrowers
Washington Post - Mortgages are complicated, and lending markets are in flux right now, but savvy, well-positioned consumers can still get the loans they need to buy, build or refinance a home. They just need to pay attention to what's going on, says David Reed, a ...
2007-09-08 11:38:00 -
Kenneth Harney : Conflicting home values show importance of not overreacting (Arizona Daily Star)
How worried should homeowners or sellers be at the moment? Looking at two nationally quoted measures of home values, you might be perplexed.
2007-09-08 12:26:44